Make sure your ring is covered the right way...
An engagement ring is one of the most important and valuable purchases you’ll ever make, so it’s essential to ensure it is properly protected with a suitable insurance policy. At Assetsure, we offer access to a jewellery insurance policy specifically designed to cover individual precious items. Assetsure Engagement Ring Insurance is arranged on a Worldwide All Risks basis, including accidental damage, theft, and loss."
Assetsure Engagement Ring Insurance ensures your most precious and valuable items are comprehensively protected, up to your chosen sum insured, on a new-for-old basis. You will be safeguarded against a range of risks, including loss, damage, theft, and loss of stones, ensuring you are fully covered no matter where you are. Our policies are designed to provide worldwide protection, giving you complete peace of mind whether you’re at home or travelling abroad. As specialist jewellery insurance experts, we offer access to policies that are specifically tailored to cover valuable and sentimental items. Whether you choose to arrange cover online or by calling our dedicated service centre, which is open 6 days a week, we pride ourselves on delivering an exceptional service every step of the way.
Over time, and with frequent wear, engagement rings can be exposed to wear and tear. One of the biggest concerns for ring owners is the possibility that the settings may loosen, leading to the loss of a stone, particularly diamonds. Since diamonds often represent the majority of a ring’s value, it is crucial to have insurance in place to cover such losses. Our insurance policies include coverage for the physical loss of the diamond or other stones. In the unfortunate event of a claim, we will work closely with insurers who will endeavour to source a diamond or gemstone as close in size, quality, and value to the original as possible, ensuring your replacement is virtually identical to the lost item.
We are able to provide engagement ring insurance for a wide variety of ring types, whether they are traditional, vintage, or more contemporary designs. This includes everything from classic diamond rings to modern rings featuring synthetic diamonds, which are becoming increasingly popular in the market.
Traditional Diamond Rings
Classic diamond engagement rings especially solitaires (a single diamond as the centrepiece) are the traditional symbols of love and commitment. These rings typically feature a diamond as the focal point, often set in precious metals such as gold, white gold, or platinum. They come in a variety of sizes, shapes, and diamond qualities, all of which contribute to their overall value. A knowledgeable jeweller will be able to guide you through the different characteristics of diamonds and explain how they are graded by laboratories specialising in diamond certification. Having the right insurance in place is essential to protect the significant investment a diamond ring represents.
Vintage or Antique Rings
For those seeking something a little more unique, vintage, or antique engagement rings offer not only historical value but also intricate designs that set them apart. These rings may feature ornate details like filigree work, coloured gemstones, or unusual settings that make them truly one-of-a-kind. However, vintage, or antique rings can be more difficult to replace, particularly if they are heirloom pieces passed down through generations. If you own or are considering purchasing such a ring, it is vital to obtain a current valuation to ensure the sum insured is sufficient to cover a replacement should it be lost or stolen.
Custom-Made Rings
Custom-made engagement rings are increasingly popular as couples look for ways to express their individuality through a ring designed to their exact specifications. By working closely with a jeweller, couples can create a bespoke piece featuring personalised details such as engraved messages, unique stone settings, or unconventional diamond shapes. When insuring a custom-made ring, it’s important to consider the cost of the craftsmanship involved, as you will want to ensure that a replacement can be recreated to match the original design in the event of a loss. Your jeweller should be able to help you with an accurate valuation.
Gemstone Engagement Rings
Although diamonds remain the traditional choice, gemstone engagement rings featuring stones such as sapphires, rubies, emeralds, or other coloured gems are gaining popularity among couples looking for a more unique style. These rings offer a striking alternative to the classic diamond ring and can often be a reflection of personal taste or birthstone significance. Our insurance policies can cover these precious gemstone rings just as comprehensively as those featuring diamonds.
Synthetic Diamond Engagement Rings
With advancements in technology, synthetic diamonds, also known as lab-grown diamonds, have gained considerable traction in the jewellery market. These diamonds are virtually identical to natural diamonds in terms of their chemical composition and physical properties but are typically more affordable. As more couples choose synthetic diamonds for their engagement rings, we are pleased to offer insurance to cover these items, ensuring they are protected just like natural diamond rings.
No matter the style, composition, or origin of your engagement ring, having proper insurance in place ensures that you are covered against the unexpected, including loss, theft, or damage. We would be happy to provide you with a tailored quotation to meet your specific insurance needs and look forward to providing you with an enagement ring insurance policy to cover your treasured item.
New for 2024 – All of our engagement ring insurance policies come with a zero excess. (The excess is the initial amount you are responsible for paying in the event of a claim) meaning you won’t pay anything out of pocket when making a claim.
This zero excess feature will continue. If you prefer, you can opt to add an excess for a discount on your premium."
For full details, please refer to the IPID (Insurance Product Information Document) and the policy wording.
We specialise in arranging insurance for engagement rings, and we're more than happy to provide quotations and arrange cover for single items of jewellery. There’s no need to insure the rest of your home with us. We understand that many ring owners may be in different living situations, such as those just setting up home, living with parents, or renting accommodation, where they might not have other valuable contents requiring cover. Our standalone engagement ring insurance allows you to protect that single, precious item of jewellery with ease.
Standalone jewellery insurance is ideal if you only need to cover a single item, such as an engagement ring. If you’ve recently obtained a new valuation for your ring and your current insurer has informed you that it now exceeds their policy’s monetary limits, we can step in to help. In such cases, we can assist you with securing the appropriate cover for your ring.
At any point during the life of your policy with us, you can also add other items of jewellery, such as wedding rings, ensuring that your most valuable possessions are protected under one comprehensive policy.
While we cannot restore the sentimental value of a cherished engagement ring, we can offer insurance protection to compensate for your loss. We work closely with insurers to ensure that your claim is handled efficiently and with care.
Based in the UK, we arrange policies for individuals who are normally resident in the United Kingdom. Our cover includes worldwide all risks, with no restrictions on the number of trips abroad you can make, provided no single trip exceeds 60 days in duration.
Some of the features of the policy we arrange are as follows;.
Worldwide All Risks Insurance
We provide cover for physical loss or damage to your engagement ring and other items of jewellery on a worldwide basis. This essential protection is crucial, as settings can loosen over time, causing individual stones to become lost, or worse, you could lose the whole ring. Our policies include unlimited trips abroad, with each trip covered for up to 60 days in duration.
No Excess
If you need to make a claim under your engagement ring policy, the insurers will not deduct an excess for specified items.
Specified Items.
When you purchase a policy, we will provide you with a schedule of insurance that specifically lists your engagement ring. If you have additional items of jewellery, we will be happy to add them to your cover as well.
No impact on your no-claims bonus
By insuring your engagement ring separately, you can safeguard the valuable no-claims bonus you’ve earned on your home insurance policy.
A Variety of Payment Options
We accept all major credit and debit cards, as well as monthly direct debit payments, for your engagement ring insurance.
Money-Back Guarantee
We are so confident in the policy we offer that you have a full 30 days to review the policy wording and change your mind if you’re not completely satisfied
Dealing with Assetsure couldn’t be easier. Your precious ring can be covered quickly and efficiently with just one phone call or by completing our online enquiry form. If you have any questions or need advice, we’re always happy to assist.
We are specialist jewellery insurance intermediaries with extensive expertise in insuring valuable items, including engagement rings. With access to a trusted network of skilled jewellers across the UK, we can ensure your item is repaired or replaced on a like-for-like basis."
We value our customers. Your premium will not be loaded next year by the insurers if you make one claim under £500. We reward loyalty and will guarantee if you find a cheaper renewal quote we will match it.
You can easily report a claim to us by telephoning our claims department who can take instructions from you regarding your loss, or if you prefer, you may email us. Full details are contained in your policy document. We’ll assist you to obtain a repaired or replaced item as quickly as possible.
We are so confident in the product we supply that we have arranged with the insurers to allow you 30 days to change your mind and request a full refund, this is rather than the generic 14 days given by most. Even if after the 30 days is up, you decide our policy is not for you, we will refund you all of the insurance you haven't used with no deductions from the return of premium.
Assetsure is a UK-based insurance provider, authorised and regulated by the Financial Conduct Authority. We are also proud members of the British Insurance Brokers Association. We also have LLoyd's of London coverholder status.
Engagement ring insurance with Assetsure works just like any other insurance. In most cases, we can provide cover on the same day you request a quote. Simply use our online calculator to start the process and obtain your insurance quickly and easily. If you prefer, you can also call our office for assistance.
Yes, the Assetsure Insurance policy is available only to individuals over the age of 21.
Your policy will be delivered instantly via email. Cover will begin from the date you request.
In most cases, we can provide cover the same day that you request it, simply use our calculator and you can buy the insurance online immediately. In cases where we cannot quote online, we endeavour to provide you with a quotation within 24 hours during the week.
The policy has no excess to pay following a claim.
Sometimes a stone drops out of a ring and cannot be located, this will be covered by the policy
f you lose your engagement ring, we will need to replace it, so it’s essential to ensure your ring is insured for its full replacement value. The maximum amount we pay to replace your ring will be the sum insured that you choose, which will be clearly stated on your schedule of insurance.
For new rings, you will usually be given an indication of how much to insure the ring for, this maybe the purchase price but remember, the cost of precious stones and metal usually increases over time. A valuation will take this in to consideration. if the ring was bought on sale, you’ll need to insure it for its true replacement value rather than the discounted price.
If your ring was purchased from a jewellery district, such as Hatton Garden in London, or the Jewellery Quarter in Birmingham, where jewellery is often sold at discounted prices, it’s advisable to request a valuation from the supplier, as the purchase price may not reflect the true cost of replacement.
The cost of engagement ring insurance depends on several factors, but simply put, the more expensive your engagement ring is to replace, the higher the insurance premium will be. By entering your details into our online engagement ring insurance calculator, you can quickly obtain a quote for an annual policy.
If you decide to purchase a policy online, you can pay in full using a credit or debit card, or opt to spread the cost with instalments over 12 months.
Engagement ring insurance arranged by Assetsure provides valuable cover against loss, damage, and theft.
That depends on the type of insurance that you buy. A policy from Assetsure is issued on an “All- risks” basis, which means that accidental loss is covered. The policy will cover not only the loss of the ring in its entirety but also the loss of any stones contained within the ring.
With such a valuable possession it is always a good idea to have the settings checked every couple of years as with items that are worn every day, settings can work loose and whilst insurance can replace lost stones, we cannot of course replace any sentimental value.
A policy from Assetsure will cover your ring on a worldwide “All- risks” insurance basis. There are no country restrictions, and you can make unlimited trips abroad as long as no one trip exceeds 60 days in duration.
We will cover your ring against loss or damage but there will be some restrictions in cover if you choose not to wear it. These are explained in our policy document and we are happy to discuss these to you over the telephone if required. In essence though, if you are wearing the ring and it is lost, stolen or damaged, you will be insured.
The choice to insure a wedding ring is entirely a personal one and is often based on the value of the ring itself. A policy will cover your item against accidental loss or damage. One popular way of insuring a wedding ring with Assetsure, is to insure both partners rings at the same time. We often find that customers who have insured an engagement ring with us, come back at a later date to add on the wedding bands as well.
A ring that has been given and received at the time of engagement is often viewed as being priceless, the sentiment attached to the item cannot be replaced by any insurance policy.
However, if you do unfortunately lose or damage the item it’s important to have an accurate valuation to enable an insurer to replace the item for you.
Valuations are normally supplied with new rings but you should seek an update at least once every couple of years.
Assetsure have extensive contacts within the Jewellery trade and if you require an updated valuation, please contact us as we may be able to point you in the right direction.
That very much depends on the type of insurance you have and you should check your policy wording or contact either your insurer or the company that arranged the insurance on your behalf.
Not all policies cover accidental loss, normally under a home insurance policy you would have had to have extended cover to include loss.
A policy arranged by Assetsure is written on an “All- risks “basis which means that subject to the policy terms and conditions loss is covered.
It goes without saying that you cannot obtain insurance for an engagement ring if it has already been lost.
The most we will pay in total for each incident of Loss is the Amount insured which you choose when you take your policy out. Please make sure this to sufficient replace your item at UK retail prices.
In the event of any claim being made for Loss of or Damage to any insured item, the onus of proving the existence, ownership and value of the item shall be upon you to prove. We accept the following items as proof of existence and Ownership;
For Items less than 5 years old
A personalised and dated purchase receipt or bill of sale detailing the insured item.
A debit or credit card or bank statement detailing the amount paid.
If a private sale, dated correspondence relating to the sale such as a letter or e-mail identifying the seller of the item.
For Items more than 5 years old
Any of the above items.
Photographic or other dated documentary evidence such as a personalised valuation or service receipt.
A valuation with full description of the item from a United Kingdom based Jeweller or Valuer stating their contact details and business credentials.